Trade With The UK Still Growing As Irish Trade Surplus Grows

By Publications Checkout
Trade With The UK Still Growing As Irish Trade Surplus Grows

Exports from Ireland to the UK have risen by 10% in April despite growing economic uncertainty surrounding Brexit, according to the latest figures from the Central Statistics Office (CSO).

Exports increased by €102 million to €1,131 million when compared with April 2018, and accounted for 9% of Ireland’s total exports this month.

The value of goods exported to the UK in the first four months of 2019 also increased to €4,752 million, an increase of €369 million (8%) in the first four months of 2018.

Ireland also imported more from the UK in April this year, increasing imports by €113 million (8%).

In total, Ireland imported over €1,500 worth of goods from the UK, which accounts for 22% of the value of total imports in April 2019.

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The value of goods imports from the UK for the period January to April this year was €6,708 million, an increase of €899 million, (15%) on the first four months of 2018.

Beyond The UK

Overall, goods exports increased by €1,471 million (13%) to €12,455 million in April compared to March, while goods imports increased by €120 million (2%) to €7,101 million.

Ireland was left with a seasonally adjusted trade surplus to €5,355 million in April 2019, after a 34% increase this month.

The EU accounted for €5,742 million of total goods exports in April 2019, just under half of our total exports, and increased by €392 million (7%) compared with April 2018.

The USA was the main non-EU destination accounting for €3,998 million (32%) of Ireland’s total exports in April, and €1,241 million (18%) of its total goods imports.

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The exports of food and live animals increased by 7.6% in April, and by 4.7% for the first three months of the year when compared to 2018.

Imports in this commodity fell in April by 0.3% but rose by 6.8% in the first three months of the year when compared with 2018.

Beverages and tobacco exports rose by 34% in April, and by 27% in the first three months of the year when compared with 2018, wholly driven by beverage exports.

Imports of beverages and tobacco increased by 12% in April while they increased by 22% in the first three months of the year when compared with 2018.

 

© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.

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